Showing posts with label FISCAL CLIFF. Show all posts
Showing posts with label FISCAL CLIFF. Show all posts

Sunday, December 23, 2012

AMERICANS WITH NO ABILITIES ACT (50%) - WHAT'S NEXT?

----- I thought this was a joke at first..... Guess who's going to pay for this... 
It's a fact now that those 50% of people NOT paying any income tax are 'earning' more money by NOT working (min. $20,000 they get from govt. handouts like food stamps, welfare, free phones, etc.) than many struggling middle class workers in the lower ranges after taxes! AND NOW THIS...

 The Americans With No Abilities Act   President Barack Obama and the Democrat-led Senate are considering sweeping legislation that will provide new benefits for many Americans. The Americans with No Abilities Act is being hailed as a major legislative goal by advocates of the millions of Americans who lack any real skills or ambition.

 "Roughly 50 percent of Americans do not possess the competence and drive necessary to carve out a meaningful role for themselves in society," said California Sen. Barbara Boxer. "We can no longer stand by and allow People of Inability (POI) to be ridiculed and passed over. With this legislation, employers will no longer be able to grant special favors to a small group of workers, simply because they have some idea of what they are doing." 

In a Capitol Hill press conference, former House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid pointed to the success of the U.S. Postal Service, which has a long-standing policy of providing opportunity without regard to performance. Approximately 74 percent of postal employees lack any job skills, making this agency the single largest U.S. employer of Persons with No Ability.

 Private-sector industries with good records of non-discrimination against the inept include retail sales (72 percent), the airline industry (68 percent), and home-improvement warehouse stores (65 percent). At the state government level, the Department of Motor Vehicles also has an excellent record of hiring Persons with No Ability (63 percent). Under the Americans with No Abilities Act, more than 25 million mid-level positions will be created, with important-sounding titles but little real responsibility, thus providing an illusory sense of purpose and performance. 

 Mandatory non-performance-based raises and promotions will be given to guarantee upward mobility for even the most unremarkable employees. The legislation provides substantial tax breaks to corporations that promote a significant number of Persons of Inability (POI) into middle-management positions, and give a tax credit to small and medium-sized businesses that agree to hire one clueless worker for every two talented hires.

 Finally, the Americans With No Abilities Act contains tough new measures to make it more difficult to discriminate against the non-abled, banning, for example, discriminatory interview questions such as, "Do you have any skills or experience that relate to this job?" "As a non-abled person, I can't be expected to keep up with people who have something going for them," said Mary Lou Gertz, who lost her position as a lug-nut twister at the GM plant in Flint, Mich., due to her inability to remember righty tighty, lefty loosey. "This new law should be real good for people like me. I’ll finally have job security." With the passage of this bill, Gertz and millions of other untalented citizens will finally see a light at the end of the tunnel. Said Sen. Dick Durbin: 

"As a senator with no abilities, I believe the same privileges that elected officials enjoy ought to be extended to every American with no abilities. It is our duty as lawmakers to provide each and every American citizen, regardless of his or her inadequacy, with some sort of space to take up in this great nation and a good salary for doing so." God help us...

Saturday, November 24, 2012

'FISCAL CLIFF' : Obama Vs. Boehner


The 'FISCAL CLIFF' we hear so much about...
What are we REALLY up against?

Why is it so critical that the correct decisions are made - and what are those?


Obama wants to raise roughly $ 1.3 billion
How does  he want to  raise it?
1) Raising taxes on those making over $250,000 will raise about $450 million
2) In addition, Obama wants to cap deductions for those same folks which 
   could raise another $450 mil. 
But that leaves him still $400 mil. short

To close the gap Obama wants to raise capital gains taxes and increase government spending (more bailouts) some more and business taxes..

The latter can be especially dangerous, in our view,  since capital gains are what drive
the economy. New private and business capital is reinvested and creates
new jobs. If anything one would CUT captial gains taxes to stimulate
the economy as even Clinton did during his presidency - and it worked.
Russia, on the other hand, failed when it cut capital gains taxes.
As Jack Kemp used to say, ' There's no capitalism if you cut capital gains.'
But then, maybe Obama that's exactly what Obama wants - to move the econmy
away from capitalism to communism.

Perhaps Obama should harken back to the old tried and true principles from another era - as in the above 1913 'Road To Success' - when government was smaller and didn't have to come up with  schemes  to achieve its  own desires. Poster vvailable at http://www.RoadToSuccess.us


We haven't even mentioned Obama's other new taxes that will go into effect january 1,
namely that paying for Obama care amd others.

The John Boehner / Republican strategy would be to cap deductions as well as cut
loopholes - and government spending. For us that would make more sense. The 
government is currently spending at a record rate approaching 30%. We've gone
all the way from 2% which George Washington thought was excessive to this.

And then we'll all be saddled with the end of Bush's tax cuts at the same time.
Put this all together and it really many of us middle and upper class folks
may really fall off that financial cliff if

Without any real stimulus to the economy - other than more artificial  printing
of money - we'll continue on a downward spiral. Government spending hurts the
economy in the long run.  Obama may eventually get himself
in a hole with nothing left but to keep taxing the wealthy - nobody else will
have any money - and then we'll be just like Russia and European countries
where the wealthy are the only ones paying taxes - and to the tune of 90%.

The only hope, as we see it, is that Obama / democrats  will   compromise with  
the Republicans and Boehner, using other means than just raising the wealthy's taxes -
means that will also stimulate spending, not hinder it.

Ideally, the Republicans would stand firm, not raise any taxes  -  in fact lower them as they ' broaden the base' - and get rid of those loop holes and deductions.  It's doubtfull the Republicans could  fully get their way, as correct as we believe it is,  so they should compromise only to the extent of giving in to the 
deduction caps 


BROADEN THE TAX BASE - LOWER THE TAX RATES
Ideally, the Republicans would stand firm, not raise any taxes  -  in fact lower them as they ' broaden the tax base' - and get rid of those loop holes and deductions.  It would likely mean cutting cut the Obamacare tax hikes which will be difficult to budge.  Ideally a strong personality such as Paul Ryan or Marco Rubio could  stand up and well present the Republican case, as suggested here.   It's doubtful  the Republicans could  fully get their way, as correct as we believe it is,  so they should compromise only to the extent of giving in to the deduction caps  and NO NEW TAXES!  Otherwise the Republicans must hold their ground as any more tax increases could  get the country into such much debt they could never climb out from under, while citizens would become more and dependent on the government for benefits as they go broke.  IT WON'T BE THE WORST THING IF THE REPUBLICANS HOLD THEIR GROUND. IT WILL BE IF THEY GIVE IN TO HIGHER TAXES!!!